Portfolio Managers
Todd B. Copenhaver, CFA
Industry: 2007
Merganser: 2013
David H. Fishman, CFA
Industry: 1999
Merganser: 2016
Strategy Overview
Investment Objective
- To generate an attractive level of current income while limiting interest rate risk
Investment Strategy
- Through sector rotation and security selection decisions, we seek to generate consistent excess returns in all market environments
- Use the index as a proxy for duration, not market weightings, and opportunistically position the portfolio based on cross sector relative value
- Leverage our boutique size by focusing on less crowded areas of the fixed income market, including those not included in the index
- Control for risk at the security, sector and portfolio level
| Overview | |
|---|---|
| Product Inception Date | August 2019 |
| Primary Benchmark | Bloomberg 1-3 Year Gov/Credit |
| Vehicle(s) | Multiple Offerings |
| Strategy Type | Active Fixed Income |
| Typical Sector Ranges | |
|---|---|
| Treasuries & Cash* | 0% - 15% |
| Agencies | 0% - 5% |
| Credit | 25% - 55% |
| RMBS | 0% - 10% |
| CMBS | 10% - 30% |
| ABS | 10% - 35% |
*Includes cash, receivables and payables.